Silvio Berlusconi has sold 48 per cent of Milan to Thai businessman Bee Taechaubol, it has been confirmed.
Rumours began to emerge this evening that a deal between the two parties had finally been struck, with ‘Mr Bee’ taking on a minority shareholding.
“The draft agreement, which will be examined in detail, assures control of the club remains in the hands of President Silvio Berlusconi and Fininvest, which will hold a majority share of 52 per cent,” a joint statement from Fininvest and Taechaubol confirmed.
“The consortium represented by Mr Taechaubol will acquire a minority stake of 48 per cent.”
The deal will be completed over the next eight weeks, and is thought to be worth around €480m, with Berlusconi valuing the club at €1bn.
“It allows me to hold onto the majority shareholding and the Presidency,” Berlusconi told reporters.
“Someone who knows the Asian market so well will develop the commercial brand of Milan in Asian markets.
“Mihajlovic? I got a good impression from him.”